Bayer turns bullish on sales forecast, new drug hope

Germany's Bayer has posted some bullish sales projections for a key drug and announced the start of a critical Phase III trial for one of its brightest drug hopes. Bayer officials essentially doubled its revenue expectations for its Nexavar cancer drug, up to more than €1 billion. And analysts cheered its decision to test a once-daily version of its stroke drug Factor Xa inhibitor, BAY 59-7939, in a late-stage study. Those two drugs are seen as Bayer's most significant chances of beating the effects of new generic competitors and the recall of Baycol, a cholesterol drug.

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